The EUR/USD has started the week with a slight drop to the daily minimum 1.1563 in the Asian opening, but has subsequently recovered more than 20 pips, rising at the beginning of the European session to the zone 1.1586 already tested on Friday, marking three-day highs.
The single currency is gaining momentum on a day highlighted by the United States holiday. The dollar measured by its DXY index is trading around 94.00 / 05, away from Friday’s highs near 99.35. For their part, 10-year US bond yields remain at their highest level in several months at around 1.615%.
With no economic data on the US calendar, the focus will shift to Europe, where the speeches by members of the European Central Bank, Richard Lane y Frank Elderson.
EUR / USD Levels
With the pair trading at the time of writing above 1.1576, gaining 0.06% daily, the first resistance is at the daily high 1.1586. Above, the target is on the barrier 1.1640, the highest level in October recorded on 04. Higher up the zone awaits 1.1690/1.1700, where are the highs of September 28 and 29.
To the downside, a break of 1.1541, Friday’s low, would open the doors to 1.1529, annual minimum registered on October 6. A break of this level could originate a succession of lows such as those marked in July 2020, which cover the area between 1.1505 and 1.1184.
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